“Of course, there’s an enormous amount of work to do – that again, involves fixing a huge financial jigsaw – but we are certain it’s an opportunity we should pursue with great commitment, endeavour and ambition.”

Mayor of Liverpool, Joe Anderson said: “I am really pleased that we have identified this exciting opportunity for North Liverpool. We know that this is an area of the city that requires substantial investment and this project could bring this in a unique form.

“Everton’s investment into this area would be the catalyst for a development which could make a real difference.”

Everton have ruled out the redevelopment of Goodison Park, their home since 1892, due to insurmountable challenges.